Pressure Sensitive Adhesive Tapes Market Forecasts to 2028 – Global Analysis By Resin Type (Acrylic, Rubber, Ethylene Vinyl Acetate (EVA) and Other resin types), By Backing Material (Polypropylene (PP), Paper, Polyvinyl Chloride (PVC) and Other backing ma

Pressure Sensitive Adhesive Tapes Market Forecasts to 2028 – Global Analysis By Resin Type (Acrylic, Rubber, Ethylene Vinyl Acetate (EVA) and Other resin types), By Backing Material (Polypropylene (PP), Paper, Polyvinyl Chloride (PVC) and Other backing materials), By Category (Commodity Tapes and Specialty Tapes), By Technology (Water Based, Radiation cured, Solvent-based and Hot melt), By End User (Automotive, Medical and Hygiene, Electronics and Other End Users) and Geography

According to Stratistics MRC, the Global Pressure Sensitive Adhesive Tapes Market is accounted for $8.46 billion in 2022 and is expected to reach $12.85 billion by 2028 growing at a CAGR of 7.2% during the forecast period. Pressure sensitive adhesive tapes are continuous strips of cloth, paper, metal, or other flexible material with tacky adhesive on one or both sides. Paper, polymeric film, foil, and clothes are the main components of single coated pressure sensitive adhesive tapes. These are used for a variety of purposes, including electrical, masking, carton sealing, and medical. Double coated tapes, on the other hand, are made of silicon release agents, which allow for different releases. Its primary applications are mounting, medical, and membrane switching.

According to Boeing's recently released Commercial Market Outlook, the global fleet will nearly double to 47,080 planes by 2041. As pressure sensitive tapes are primarily used in the production of aircraft interiors and avionics, increased demand for aircrafts is expected to fuel demand for pressure sensitive tapes.

Market Dynamics:

Driver:

Growing demand for lightweight and low emission automotive

The growing demand for lightweight, low-emission vehicles is driving the growth of the pressure-sensitive adhesives market. Polymer-based and hot adhesives are commonly used in the automotive industry for panel laminations and trim. Growing consumer awareness of low-weight vehicles with improved fuel efficiency and lower emissions is expected to drive demand for such adhesives in the automotive industry. As a result, increased demand for fuel-efficient vehicles is expected to propel market growth.

Restraint:

Price fluctuations & Environmental concerns

The price volatility of raw materials is expected to limit the growth of the pressure sensitive adhesive tape market. The escalation in the price of raw materials required for the production of pressure sensitive adhesive tape is limiting the growth of the market. Furthermore, the materials used in the production of PSA pose a risk to both aquatic and terrestrial species. As a result, rising environmental concerns and price fluctuations are expected to impede market growth.

Opportunity:

Increasing demand in packaging industry

The packaging industry makes extensive use of pressure sensitive adhesive tapes. This tape is used to pack boxes containing fragile goods. This tape will remain adhered and intact until it reaches its destination, and it will not be removed at any point during transportation. Furthermore, some types of solvent-based pressure sensitive adhesive tape can be used in conjunction with this type of tape to seal containers airtight. The packaging industry's high demand for pressure sensitive adhesive tape is expected to fuel market growth.

Threat:

Strict guidelines for the production of pressure-sensitive adhesive tape

Strict rules and regulations governing the production of pressure-sensitive adhesives due to various health concerns and exhibit recycling are expected to slow the market's growth rate. This factor is limiting the adoption of pressure-sensitive adhesive tapes in a variety of industries, hindering market growth.

Covid-19 Impact

The COVID-19 pandemic had a negative impact on pressure sensitive adhesive tapes market. The automotive industry struggled to survive the COVID-19 pandemic, but electric vehicles remained a bright spot. Despite numerous challenges, sales of electric vehicles increased during the pandemic. The shift in business focus toward lightweight vehicles has increased demand for advanced pressure-sensitive adhesive tape solutions. Major exporters of automotive parts from China have been impacted by global travel bans and the temporary closure of manufacturing hubs, which have shifted automotive manufacturers across Europe. Furthermore, automotive assembly plants across the United States have been closed due to the risk of infection among workers, putting a strain on the distressed supply of automotive vehicles.

The Silicone segment is expected to be the largest during the forecast period

During the forecast period, the silicone segment is expected to be the largest segment due to its low surface energy substrates. Silicone tapes are made of silicone polymers and are widely used in specific industrial applications such as solar and wind energy, heavy machinery, and extreme environments, particularly in aerospace as masking tapes, process tapes, and high-performance insulation laminates. PSA tapes based on silicone can adhere to difficult surfaces and maintain adhesion over a wider temperature range. Major players intend to increase silicone PSA tape production capacity in anticipation of future demand, boosting the market.

The Water Based segment is expected to have the highest CAGR during the forecast period

During the forecast period, the Water Based segment is expected to witness the highest CAGR usage in a various industry including packaging, electrical, electronics & telecommunications, medical & healthcare, and automotive. Furthermore, water-based pressure sensitive adhesives are gaining popularity in the global construction industry due to their convenience, bond strength, and shorter processing time. One of the major factors driving up demand for water-based pressure sensitive adhesives is the growing use of food packaging.

Region with largest share:

Due to the increasing applications of tapes, labels, graphics, and other pressure sensitive adhesives, Asia Pacific is expected to hold the largest share in the global pressure sensitive adhesive tapes market during the forecast period. This expansion is attributed to developing countries in the region, such as China, South Korea, and India. China is a major exporter of pressure sensitive adhesives. Furthermore, the expansion of industries such as packaging, healthcare, automotive, transportation, and building and construction in the region is due to a rise in demand for pressure sensitive adhesives.

Region with highest CAGR:

The North America region is expected to grow at the fastest CAGR during the forecast period, owing to an increase in demand for construction chemicals, which in turn increases demand for pressure sensitive adhesives in this region. Furthermore, the packaging industry in North America has been undergoing a transition in recent years, with the manufacturing and industrial sectors adapting to flexible packaging, which will propel the market in this region.

Key players in the market

Some of the key players profiled in the Pressure Sensitive Adhesive Tapes Market include 3M Company, Ashland Inc., Avery Dennison Corporation, BASF SE, Bostik SA, Scapa, Nova Films and Foils, Avery Dennison Corporation, Nippon Paint Co. Ltd., Dow Chemical Company, Ellsworth Adhesives, H.B Fuller Company, Henkel AG & Co. KGaA. LG Chem and Tesa.

Key Developments:

In February 2020, Henkel Adhesives Technologies opened its new production facility in Kurkumbh, India, near Pune. The unit aims to serve the growing demand for high-performance solutions in adhesives, sealants, and surface treatment products in Indian industries. Designed as a smart factory, the new plant also will also help a wide range of Industry 4.0 operations and meet the highest standards for sustainability

In June 2019, BASF SE, a global leader in manufacturing raw materials for pressure sensitive adhesives, doubled its manufacturing capacity of acResin at its Ludwigshafen site, Germany. AcResin is a UV acrylic hot melt, used in manufacturing of the pressure sensitive adhesives

In November 2018, H.B. Fuller launched a new product named Swiftmelt 1908, in India at the Labelexpo 2018. The product was customized to meet the unique requirements in India and was designed for providing high adhesion, precise die cutting performance, and clean converting on holographic label stock

Resin Types Covered:
• Acrylic
• Rubber
• Ethylene Vinyl Acetate (EVA)
• Silicone
• Other Resin Types

Backing Materials Covered:
• Polypropylene (PP)
• Paper
• Polyvinyl Chloride (PVC)
• Other Backing Materials

Categories Covered:
• Commodity Tapes
• Specialty Tapes

Technologies Covered:
• Water Based
• Radiation cured
• Solvent-based
• Hot melt

End Users Covered:
• Automotive
• Medical and Hygiene
• Electronics
• Packaging
• Building and Construction
• Consumer Goods
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements